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MARKET OUTLOOK

Triton Market Research’s report infers that the global automotive semiconductor market is forecasted to witness growth at a CAGR of 6.30% during the period of 2021-2028.

Factors such as the rising need for autonomous features in cars, coupled with the increasing need for function in electronic control units, are widening the growth of the automotive semiconductor market. 

Additionally, the rising adoption of electric vehicles and a significant shift towards technological trends are opening new avenues for manufacturers in the automotive semiconductor market. However, high regulations and a shortage of semiconductors are expected to limit the global market’s future growth. 

REGIONAL OUTLOOK

The global automotive semiconductor market covers North America, Asia-Pacific, Latin America, Europe, Middle East and Africa regions. 

Globally, North America is anticipated to emerge as the fastest-growing region in the automotive semiconductor market over the forecast period. This robust growth can be attributed to the rise in demand for commercial vehicles, especially in the US. Moreover, the increase in automated safety technologies, coupled with an upsurge in EV production, has strengthened the studied market’s growth. 

Further, the ever-increasing adoption of light commercial vehicles and passenger cars is likely to influence the implementation of autonomous features. Hence, such factors are amplifying the demand for semiconductors, in turn, fueling the growth of the automotive semiconductor market.  

COMPETITIVE OUTLOOK

The renowned companies in the automotive semiconductor market include NXP Semiconductors NV, Micron Technology Inc, Texas Instruments Incorporated, Intel Corporation, Samsung Electronics Co Ltd, Toshiba Corporation, Analog Devices Inc, Infineon Technologies AG, Rohm Co Ltd, Qualcomm Technologies Inc, STMicroelectronics NV, Renesas Electronics Corporation, Robert Bosch GmbH, Microchip Technology Incorporated, and ON Semiconductor Corporation.

Intel Corporation is engaged in designing and developing integrated digital technology products and components for the computing and communications industries. Its product line includes processors, chipsets, motherboards, and server products, among others. The company markets its products and solutions to original equipment manufacturing, industrial equipment manufacturers, and others. It has operations globally, with headquarters in the US.